3750 Support/Resistance Battleground Back in Play

5 thg 12, 2018

For whatever reason, this support/resistance line acted as a magnet during the most recent test of new lows. It served as a launching pad for both upward and downward movement. As much as the daily and 12H charts look like absolute garbage right now, I believe that this line will play out again in much the same way over the next 2 days or so. The trend of longer timeframes will probably play out and send us lower but I would be very surprised to see us dump immediately without respecting what seems to be the gravitational pull of this line. I'll be making small trades around it with a bearish bias.

Good luck trading!

D